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UPDATE: NJ Assemblyman and Senator backs Tesla direct sales in state

New Jersey Senator and Assembly member push back against the state banning Tesla from selling.

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Tesla Motors & New Jersey
Model S

Model S

UPDATE: The New Jersey NJ A3096 bill aiming to allow electric car companies to sell directly in the state of New Jersey will be presented tomorrow at the New Jersey State Assembly by the Consumer Affairs Committee, according to Plug In America.

After the sensational spectacle, where the State of New Jersey banned Tesla from selling directly, two politicians are rising to the opportunity of introducing a bill to counter the measure. Solar and electric vehicle advocate (EV) NJ Assemblyman Eustace and Sen. Lesniak are pushing bills to amend the current state law to allow any electric automaker to sell directly, including Tesla Motors.

Oh politics, when you grip us!

Hollywood has serious competition with the dramatic political scene. After a last minute turn around and a hasty decision, NJ denies Tesla from selling directly. But wait, Democratic Assemblyman Timothy Eustace has something to say about it. This true alternative energy and EV aficionado said: “I love the idea that I get to drive past the gas station. We have solar panels on the house, so it’s a full-circle philosophy that you plug it in, the sun gets the power. It’s not coal-fired. I’m really excited about the idea and I try to get other people excited about it too.”

And so, bill A2986 is making its way through the Assembly and looks to amend the current state law in favor for any electric automaker to sell directly to consumers. The only thing an automaker needs to do is be licensed by the New Jersey Motor Vehicle Commission. This gives you an idea where the next battle will happen.

So far, Democratic Sen. Raymond Lesniak, also has a proposal to allow the direct sales of zero emission vehicles, but this won’t likely happen until 2018. According to Lesniak: “I think we need to give electric cars the ability to get a foothold in the market. I think that’s a fair compromise.”

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Assemblyman Eustace was quoted saying that both sides of this argument are willing to work out a compromise, which is a good thing for everyone involved. The negative publicity, both the State and the dealership associations have received is starting to backfire.

As far as Gov. Chris Christie, Sen. Lesniak believes he is open to legislation to allow Tesla to sell directly, and if there is direct support, would approve it.

Two more weeks of direct sales

In the meantime, Tesla Motors has two more weeks of direct sales in the State of New Jersey before being prohibited. So here’s your chance to voice your opinion Garden State. Buy a Model S and say yes to freedom of choice.

On a related note, the NHTSA is closing its investigation on the Model S possible fire hazard, which can only mean good news for the Tesla.

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We welcome good news, and anything that furthers electric car education, but we hope New Jersey will take this opportunity to prove the news headlines wrong by allowing everyone in th state to buy where they chose to, including a Tesla Motors store.

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Elon Musk

SpaceX considering confidential IPO filing this March: report

The filing could pave the way for a June listing at a valuation that may exceed $1.75 trillion.

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Credit: SpaceX/X

SpaceX is reportedly preparing to confidentially file for an initial public offering (IPO) as soon as March. The filing could pave the way for a June listing at a valuation that may exceed $1.75 trillion, potentially making it the largest IPO in history.

The update was initially reported by Bloomberg News, which cited information shared by people reportedly familiar with the matter. 

As per the publication, a confidential filing allows a company to receive regulatory feedback before publicly releasing its financials. Bloomberg’s source, however, noted that the timing of SpaceX’s IPO is still under discussion and plans could change.

SpaceX did not immediately respond to requests for comment.

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A March submission would mark the clearest step yet toward bringing Elon Musk’s private space company into public markets. People familiar with the preparations said the offering could raise as much as $50 billion. That would surpass the $29 billion debut of Saudi Aramco in 2019, currently the largest IPO on record.

Major banks including Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley, and Bank of America Corp. are reportedly positioned for senior roles in the transaction. SpaceX is also said to be considering a dual-class structure that would allow insiders, including Musk, to retain enhanced voting control.

Satellite communications provider EchoStar Corp., which holds a stake in SpaceX, reportedly saw its shares rise following news of the potential filing.

At a valuation exceeding $1.75 trillion, SpaceX would immediately have a larger market cap than all but five of the companies traded in the S&P 500 index. That figure would place it ahead of Meta Platforms Inc. and Tesla Inc. by market capitalization, trailing only a small group of mega-cap firms such as Apple Inc. and Microsoft Corp.

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The scale of the proposed valuation reflects SpaceX’s dominance in orbital launch services and its Starlink satellite network, which serves millions of users globally. The company has also outlined long-term expansion plans tied to higher Starship launch cadence, orbital infrastructure, and lunar development initiatives.

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Elon Musk

Elon Musk hints Tesla investors will be rewarded heavily

“Hold onto your Tesla stock. It’s going to be worth a lot, I think. That’s my bet,” Musk said.

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Credit: Grok

Elon Musk recently hinted that he believes Tesla investors will be rewarded heavily if they continue to hold onto their shares, and he reiterated that in a new interview that the company released on its social accounts this week.

Musk is one of the most successful CEOs in the modern era and has mammothed competitors on the Forbes Net Worth List over the past year as his holdings in his various companies have continued to swell.

Tesla investors, especially those who have been holding shares for several years, have also felt substantial gains in their portfolios. Over the past five years, the stock is up over 78 percent. Since February 2019, nearly seven years ago to the day, the stock is up over 1,800 percent.

Musk said in the interview:

“Hold onto your Tesla stock. It’s going to be worth a lot, I think. That’s my bet.”

It’s no secret Musk has been extremely bullish on his own companies, but Tesla in particular, because it is publicly traded.

However, the company has so many amazing projects that have an opportunity to revolutionize their respective industries. There is certainly a path to major growth on Wall Street for Tesla through its various future projects, including Optimus, Cybercab, Semi, and Unsupervised FSD.

  • Optimus (Tesla’s humanoid robot): Musk has discussed its potential for tasks like childcare, walking dogs, or assisting elderly parents, positioning it as a massive long-term driver of company value.
  • Cybercab (Tesla’s robotaxi/autonomous ride-hailing vehicle): a fully autonomous vehicle geared specifically for Tesla’s ride-sharing ambitions.
  • Semi (Tesla’s electric truck, with mentions of expansion, like in Europe): brings Tesla into the commercial logistics sector.
  • Unsupervised FSD (Full Self-Driving software achieving full autonomy without human supervision): turns every Tesla owner’s vehicle into a fully-autonomous vehicle upon release

These projects specifically are some of the highest-growth pillars Tesla has ever attempted to develop, especially in Musk’s eyes, as he has said Optimus will be the best-selling product of all-time.

Many analysts agree, but the bullish ones, like Cathie Wood of ARK Invest, are perhaps the one who believes Tesla has incredible potential on Wall Street, predicting a $2,600 price target for 2030, but this is not even including Optimus.

She told Bloomberg last March that she believes that the project will present a potential additive if Tesla can scale faster than anticipated.

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Cybertruck

Tesla drops latest hint that new Cybertruck trim is selling like hotcakes

According to Tesla’s Online Design Studio, the new All-Wheel-Drive Cybertruck will now be delivered in April 2027. Earlier orders are still slated for early this Summer, but orders from here on forward are now officially pushed into next year:

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(Credit: Tesla)

Tesla’s new Cybertruck offering has had its delivery date pushed back once again. This is now the second time, and deliveries for the newest orders are now pushed well into 2027.

According to Tesla’s Online Design Studio, the new All-Wheel-Drive Cybertruck will now be delivered in April 2027. Earlier orders are still slated for early this Summer, but orders from here on forward are now officially pushed into next year:

Just three days ago, the initial delivery date of June 2026 was pushed back to early Fall, and now, that date has officially moved to April 2027.

The fact that Tesla has had to push back deliveries once again proves one of two things: either Tesla has slow production plans for the new Cybertruck trim, or demand is off the charts.

Judging by how Tesla is already planning to raise the price based on demand in just a few days, it seems like the company knows it is giving a tremendous deal on this spec of Cybertruck, and units are moving quickly.

That points more toward demand and not necessarily to slower production plans, but it is not confirmed.

Tesla Cybertruck’s newest trim will undergo massive change in ten days, Musk says

Tesla is set to hike the price on March 1, so tomorrow will be the final day to grab the new Cybertruck trim for just $59,990.

It features:

  • Dual Motor AWD w/ est. 325 mi of range
  • Powered tonneau cover
  • Bed outlets (2x 120V + 1x 240V) & Powershare capability
  • Coil springs w/ adaptive damping
  • Heated first-row seats w/ textile material that is easy to clean
  • Steer-by-wire & Four Wheel Steering
  • 6’ x 4’ composite bed
  • Towing capacity of up to 7,500 lbs
  • Powered frunk

Interestingly, the price offering is fairly close to what Tesla unveiled back in late 2019.

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